Gratuity Payment For Maximum Limit Of Service In Years

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Respected Seniors,
The Payment of Gratuity Act, 1972 specifies minimum continuous service of 5 years to be eligbile for gratuity benefits, but is silent on the maximum number of service. It has simply mentioned the amount of Gratuity limit to be Rs.10lac.
Does it mean, a person who has more than 33 years, in the present case 37 years, is eligible for gratuity?, computed as under:
salary X 15/26 x 37 = gratuity amount, and the amount of gratuity is within the prescribed limit of Rs.10 lac as amended by notification dated May 24, 2010.
kindly guide.
regards
Harminder27th June 2012 From India, Delhi

An employee is entitled for the entire service without any maximum limit, put in by him till the date of retirement to be counted for gartuity, provided that if the amount exceeds Rs.10 lakhs, he is leigible only for 10 lakhs.
B.Saikumar
Hr & Labour Law advsior
Mumbai28th June 2012 From India, Mumbai

In my view,If the extension is in continuation of the existing tenure of service and he retires after 34 years of service, he should get gratuity for 34 years .
B.Saikumar
HR & Labour Law Advisor
Navi Mumbai20th January 2017 From India, Mumbai

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